Connect with us

Latest

Analysis

News

Tariffs and Sanctions: A New Energy Trade War?

Trump has become the top promoter for  increasing exports of  US Liquid Natural Gas (LNG) to world markets. 

Published

on

1,159 Views

The Trump Administration trade policy is nowhere so clear as in the energy area.  For years it was thought that the younger Bush Administration was one of the most energy industry friendly in history.  But the Trump Administration has gone far beyond that.

Hiring Ray Tillerson, the former CEO of ExxonMobil, as US Secretary of State, sent a strong signal to the entire industry, even though his tenure proved to be temporary.

Prior to that, the Administration withdrew from the Paris Climate Agreement, a long held priority of Exxon and the entire oil industry.  Following hard upon that, the Environmental Protection Agency (EPA) has reduced or eliminated regulations limiting carbon and other pollutants.

Exxon has for more than a decade underwritten the now discredited, right wing attack on climate change as a hoax.  Although the energy industry has now publicly acknowledged climate change as a global threat, in practice the subject is still largely ignored.

Going further, the Trump Administration has removed and reduced regulations that hampered the industry expansion, including allowing drilling on both ocean coast, while easing safety regulations that were brought into effect after BP’s Gulf of Mexico disastrous spill, the worst in US history.

Regulations have also been relaxed for flaring of natural gas from oil drilling sites, a major contributor atmospheric carbon.

Government protected nature preserves are being opened to exploration and drilling for the first time in generations. Added to that was the dropping of regulations that for many years prohibited export of US crude. Since then, the US has become a major player in the global energy industry.

The Administration currently plans to rescind and lower fuel efficiency standards for autos and trucks. That is likely to encourage increased purchase of larger SUVs, increased oil consumption, and rising gasoline prices.

The Administration corporate tax cut, one of the largest in US history, also strongly benefitted  the energy industry, as it did other industries.

From the moment he chose to run for President, Trump has embraced the new shale revolution in the US as a major contributor to the country’s economic growth and energy independence.

Increasingly, Trump has become the top promoter for  increasing exports of  US Liquid Natural Gas (LNG) to world markets.  He openly threatened to place economic sanctions on Germany if it went ahead with the deal for Russia’s new Nordstream 2 pipeline, that would nearly double natural gas supplies from Russia, Germany’s largest  supplier.

As most observers noted, the US sanction threat was accompanied by the offer of US LNG to Germany and Europe, as a replacement for Russian gas.

No doubt that Trump’s outrageous bullying offended European sensibility, but despite the German protest regarding outside interference in its domestic  economic affairs, and its intention to complete the Russian pipeline, Germany is quietly building up LNG importing facilities, “as a gesture to American friends.”

Most energy experts agree that it is inevitable that US LNG will eventually become a component of European markets, despite its significantly higher price to Russian and Norwegian gas, if for no other reasons to keep the peace with America, Europe’s largest ally, and assure Europe’s access to the US market.

This will also serve to assuage the US complaints about unfair trade.  It matters little that the US trade deficit with Germany centers on its auto industry rather than energy, if the sale of natural gas serves to reduce the US trade deficit.

The same could be said about the US/China trade deficit. China, the largest energy consumer, is the one country where solutions to the trade deficit is clearly at hand, involving increased US LNG imports. China already has a longterm, 20 year deal to import LNG from the leading US LNG company, Cheniere Energy.

China could easily reduce the amount of gas imports from variety of other suppliers (i.e., Qatar, Australia, New Guinea, Iran, Russia) and replace these with US supplies. That would be a near costless transaction for China, as it is already paying other producers for natural gas and LNG supplies.

Consider the effects of a possible LNG deal could have on the trade dispute.  In terms of the current deficit, China sales to the US is estimated at around $350 billion, while US sales to the China is around $150 billion.

Last May, the China signed a  $25 billion deal for   importing US LNG. If we assumed that in current negotiations the two countries could strike a modest deal for another $25 billion in annual US LNG sales to China, US sales to China increases to $200 billion, reducing China’s surplus to $300 billion.

If that were to take place, the trade deficit would reduced to around $100 billion, and Trump would no doubt return to the election campaign trail to boast of the first US trade victory over China.

The risk to this scenario is the presumption that everyone involved really wants a solution to the trade dispute, but there is widespread suspicions that US tariffs on China may be less about fair trade and more about economic warfare to contain China’s growth.

George Friedman’s “Geopolitical Futures” recently noted that  “The U.S. is beginning to see it [tariffs] more as a strategic opportunity to contain Chinese assertiveness than as a play to invigorate U.S. manufacturing.”

There remains a stalwart band of left wing journalists, led by the ever brilliant, Pepe Escobar, who maintain that Europe, Russia, China, and Iran will band together to thwart US sanctions on Iran, and that ‘Iran’s oil sales will be totally unaffected. They also hold strongly to the opinion that China will not yield to US threats and ultimatum.

This despite the fact that major energy companies, like Royal Dutch Shell and Total have already fled Iran in fear of US sanctions, while major countries are severely cutting Iran imports.

Currently, Japan and India have agreed to major reductions of energy imports from Iran.  Recent news  has it that Sinopec, China’s largest oil and gas refiner, under threats of US sanctions, also agreed to severely cut imports from Iran.  It’s no secret that nearly all of Iran’s competitors, it’s OPEC ‘partners’, will go after those under supplied markets, as will the US.

Sanctions against Iran will certainly reduce its exports substantially, with the worst case estimates of a loss to the markets of 1.5 million barrels of oil per day. This will also open opportunities in under supplied  markets that will almost certainly be exploited by US and other competitors.

Some observers believe that because the upcoming election is uppermost in the minds of both US political parties, a trade victory with China is extremely important  to the Republican election campaign. If so, their thinking goes, a deal will result in easing tariffs with China by November.

Trump himself recently stated that he’s ready to talk trade with China, but continues to add the qualifier, “not now.” Many Trump watchers interpret this to mean that getting tough with China’ plays well to Trump’s base, boosts the Republican election prospects, and afterwards a trade deal is likely to be struck.

Any trade deal with China could also be used by the US as a template for deals with Japan, India, and South Korea, the next largest Asian importers  of natural gas. It can hardly be coincidence that, as in Europe, these energy importing countries are threatened by US tariffs over unfair trade.

However, Geopolitical Futures states that “the broad impression in China appears to be that Trump isn’t actually interested in a deal – certainly not one that China could accept – and that this is just the first major salvo in an emerging Cold War and that instead … the world needs to get ready for a new cold war with China.

In a recent speech, Richard Haas, President of New York-based think tank, Council on Foreign Relations, stated that “…the Trump administration initially focused just on trade, “but now it’s broadening, and it almost seems as if the administration wants to have something of a cold war with China.”

What about Venezuela, a country estimated to have the largest oil reserves in the world, also laboring under US sanctions? It’s also a country about which the Administration has made no secret of its plans for a possible US military invasion to topple the Maduro government.

Why go public with that story now, with only a little more than a month towards US Congressional elections?

There is widespread speculation that this announcement may be a trial ballon, as part of the preparation for laying the ground work for an invasion aimed at bolstering Republican election prospects. To date, there has been no sign of opposition to these threats from Democrats.

Conclusion:

It’s no accident that sanctions are aimed at the US largest energy competitors, Russia and Iran, nor is it coincidence that the largest energy importers, Europe, China, Japan, and South Korea are also under threat of US tariffs or sanctions.

Instead, it clearly shows that the US is using the threat of economic warfare and possible military conflict as leverage to open markets to the newest player on the world’s energy market, American LNG.

If the US is successful in these deals, it’s likely that in future, there will be a parallel attempts to make inroads for US crude export to the very same oil importing countries, relying upon the very same LNG game plan.

Liked it? Take a second to support The Duran on Patreon!
Advertisement
10 Comments

10
Leave a Reply

avatar
7 Comment threads
3 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
8 Comment authors
BerkeMichaelTheCelotajsHerbert DorseySmokingeagle Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
Sally Snyder
Guest
Sally Snyder

As shown in this letter, America’s largest retailer has publicly admitted that consumers will be the big losers in Donald Trump’s trade war with China:

https://viableopposition.blogspot.com/2018/10/walmart-winners-and-losers-in-us-china.html

This is yet another example of unintended consequences of a poorly executed government mandate.

TheCelotajs
Guest
TheCelotajs

When one has no knowledge or experience in foreign trade this is what one gets when he has people around him that have their own agenda and this is what I see happening today. Trump is President in name only other wise he is being lead around by his nose by others.

Jane Karlsson
Guest
Jane Karlsson

This is all going to backfire when US shale gas starts to run out, which may happen a lot sooner than Mr Berke thinks.

http://www.artberman.com/permian-reserves-may-much-smaller-think/

Jane Karlsson
Guest
Jane Karlsson

Exxon thinks climate change is a hoax, does it. Well perhaps it has a point.

“Just ahead of a new report from the IPCC, dubbed SR#15 about to be released today, we have this bombshell- a detailed audit shows the surface temperature data is unfit for purpose. The first ever audit of the world’s most important temperature data set (HadCRUT4) has found it to be so riddled with errors and “freakishly improbable data” that it is effectively useless.”

https://wattsupwiththat.com/2018/10/11/bombshell-audit-of-global-warming-data-finds-it-riddled-with-errors/

Also see https://www.cato.org/publications/commentary/why-enron-wants-global-warming

and https://wattsupwiththat.com/2016/09/22/study-tropical-hotspot-fingerprint-of-global-warming-doesnt-exist-in-the-real-world-data/

Smokingeagle
Guest
Smokingeagle

Exxon thinks climate change is a hoax, does it? Has it changed its mind since the 1980s? Check out this article dated 18/09/2018: Shell and Exxon’s secret 1980s climate change warnings: Newly found documents from the 1980s show that fossil fuel companies privately predicted the global damage that would be caused by their products. https://www.theguardian.com/environment/climate-consensus-97-per-cent/2018/sep/19/shell-and-exxons-secret-1980s-climate-change-warnings In the 1980s, oil companies like Exxon and Shell carried out internal assessments of the carbon dioxide released by fossil fuels, and forecast the planetary consequences of these emissions. In 1982, for example, Exxon predicted that by about 2060, CO2 levels would reach around 560… Read more »

Jonathan Bethune
Guest
Jonathan Bethune

There trying to spur growth by expanding there capacities toward self reliance. There is a new tax framework In place now that has lowered the corporate tax and raised the base wages of Americans to spur the consumption required to grow the new base of American business. I think there seeking a new equilibrium to replace the old given the new geopolitical framework that has emerged in the last ten years. I’m hoping they will stop when they have achieved the new balance and we all move forward in our own domains. Greed as always being the bogeyman of the… Read more »

Herbert Dorsey
Guest
Herbert Dorsey

While Trumpo’s policies might help the U.S. Energy companies, they also hasten the eventual destruction of our planet via increased pollution. People who still deny global warming have their head’s buried in the sand. Scientific data shows that the ocean tempratures are on the increase and that leads to much stronger and more frequent hurricanes. The destruction caused by these hurricanes is much more expensive than the profit benefits to oil corporations incurred by increased air pollution with greenhouse gasses.

TheCelotajs
Guest
TheCelotajs

In other words it is Trump’s Energy or NO ENERY AT ALL since Trump has become the top promoter for increasing exports of US Liquid Natural Gas (LNG) to world markets or to put it into simpler terms, US LNG or we will put sanctions on you until you are forced to buy only US LNG!

Michael
Guest
Michael

Berke by name Berke by nature. Lot of wishful thinking here. By the way CO2 does NOT drive climate. We are entering a solar minimum that has at a minimum 30-40 years to run.

Berke
Guest
Berke

You keep getting your information from the pizza delivery boy instead of the scientist like those who just won a Noble Prize for studies on climate change.

Latest

Skripal and Khashoggi: A Tale of Two Disappearances

Two disappearances, and two different responses.

Published

on

Authored by Finian Cunningham via The Strategic Culture Foundation:


Two disappearances, and two very different responses from Western governments, which illustrates their rank hypocrisy.

When former Russian spy Sergei Skripal went missing in England earlier this year, there was almost immediate punitive action by the British government and its NATO allies against Moscow. By contrast, Western governments are straining with restraint towards Saudi Arabia over the more shocking and provable case of murdered journalist Jamal Khashoggi.

The outcry by Western governments and media over the Skripal affair was deafening and resulted in Britain, the US and some 28 other countries expelling dozens of Russian diplomats on the back of unsubstantiated British allegations that the Kremlin tried to assassinate an exiled spy with a deadly nerve agent. The Trump administration has further tightened sanctions citing the Skripal incident.

London’s case against Moscow has been marked by wild speculation and ropey innuendo. No verifiable evidence of what actually happened to Sergei Skripal (67) and his daughter Yulia has been presented by the British authorities. Their claim that President Vladimir Putin sanctioned a hit squad armed with nerve poison relies on sheer conjecture.

All we know for sure is that the Skripals have been disappeared from public contact by the British authorities for more than seven months, since the mysterious incident of alleged poisoning in Salisbury on March 4.

Russian authorities and family relatives have been steadfastly refused any contact by London with the Skripal pair, despite more than 60 official requests from Moscow in accordance with international law and in spite of the fact that Yulia is a citizen of the Russian Federation with consular rights.

It is an outrage that based on such thin ice of “evidence”, the British have built an edifice of censure against Moscow, rallying an international campaign of further sanctions and diplomatic expulsions.

Now contrast that strenuous reaction, indeed hyper over-reaction, with how Britain, the US, France, Canada and other Western governments are ever-so slowly responding to Saudi Arabia over the Khashoggi case.

After nearly two weeks since Jamal Khashoggi entered the Saudi consulate in Istanbul, Turkey, the Saudi regime is this week finally admitting he was killed on their premises – albeit, they claim, in a “botched interrogation”.

Turkish and American intelligence had earlier claimed that Khashoggi was tortured and murdered on the Saudi premises by a 15-member hit squad sent from Riyadh.

Even more grisly, it is claimed that Khashoggi’s body was hacked up with a bone saw by the killers, his remains secreted out of the consulate building in boxes, and flown back to Saudi Arabia on board two private jets connected to the Saudi royal family.

What’s more, the Turks and Americans claim that the whole barbaric plot to murder Khashoggi was on the orders of senior Saudi rulers, implicating Crown Prince Mohammed bin Salman. The latest twist out of Riyadh, is an attempt to scapegoat “rogue killers” and whitewash the House of Saudi from culpability.

The fact that 59-year-old Khashoggi was a legal US resident and a columnist for the Washington Post has no doubt given his case such prominent coverage in Western news media. Thousands of other victims of Saudi vengeance are routinely ignored in the West.

Nevertheless, despite the horrific and damning case against the Saudi monarchy, the response from the Trump administration, Britain and others has been abject.

President Trump has blustered that there “will be severe consequences” for the Saudi regime if it is proven culpable in the murder of Khashoggi. Trump quickly qualified, however, saying that billion-dollar arms deals with the oil-rich kingdom will not be cancelled. Now Trump appears to be joining in a cover-up by spinning the story that the Khashoggi killing was done by “rogue killers”.

Britain, France and Germany this week issued a joint statement calling for “a credible investigation” into the disappearance. But other than “tough-sounding” rhetoric, none of the European states have indicated any specific sanctions, such as weapons contracts being revoked or diplomatic expulsions.

Canadian Prime Minister Justin Trudeau said he was “concerned” by the gruesome claims about Khashoggi’s killing, but he reiterated that Ottawa would not be scrapping a $15 billion sale of combat vehicles to Riyadh.

The Saudi rulers have even threatened retaliatory measures if sanctions are imposed by Western governments.

Saudi denials of official culpability seem to be a brazen flouting of all reason and circumstantial evidence that Khashoggi was indeed murdered in the consulate building on senior Saudi orders.

This week a glitzy international investor conference in Saudi Arabia is being boycotted by top business figures, including the World Bank chief, Jim Yong Kim, JP Morgan CEO Jamie Dimon and Britain’s venture capitalist Richard Branson. Global firms like Ford and Uber have pulled out, as have various media sponsors, such as CNN, the New York Times and Financial Times. Withdrawal from the event was in response to the Khashoggi affair.

A growing bipartisan chorus of US Senators, including Bob Corker, Marco Rubio, Lindsey Graham and Chris Murphy, have called for the cancellation of American arms sales to Saudi Arabia, as well as for an overhaul of the strategic partnership between the two countries.

Still, Trump has rebuffed calls for punitive response. He has said that American jobs and profits depend on the Saudi weapons market. Some 20 per cent of all US arms sales are estimated to go to the House of Saud.

The New York Times this week headlined: “In Trump’s Saudi Bargain, the Bottom Line Proudly Stands Out”.

The Trump White House will be represented at the investment conference in Saudi Arabia this week – dubbed “Davos in the Desert” by Treasury Secretary Steven Mnuchin. He said he was attending in spite of the grave allegations against the Saudi rulers.

Surely the point here is the unseemly indulgence by Western governments of Saudi Arabia and its so-called “reforming” Crown Prince. It is remarkable how much credulity Washington, London, Paris, Ottawa and others are affording the Saudi despots who, most likely, have been caught redhanded in a barbarous murder.

Yet, when it comes to Russia and outlandish, unproven claims that the Kremlin carried out a bizarre poison-assassination plot, all these same Western governments abandon all reason and decorum to pile sanctions on Russia based on lurid, hollow speculation. The blatant hypocrisy demolishes any pretense of integrity or principle.

Here is another connection between the Skripal and Khashoggi affairs. The Saudis no doubt took note of the way Britain’s rulers have shown absolute disregard and contempt for international law in their de facto abduction of Sergei and Yulia Skripal. If the British can get away with that gross violation, then the Saudis probably thought that nobody would care too much if they disappeared Jamal Khashoggi.

Grotesquely, the way things are shaping up in terms of hypocritical lack of action by the Americans, British and others towards the Saudi despots, the latter might just get away with murder. Not so Russia. The Russians are not allowed to get away with even an absurd fantasy.

Liked it? Take a second to support The Duran on Patreon!
Continue Reading

Latest

US-China trade war heats up as surplus hits record $34 Billion (Video)

The Duran – News in Review – Episode 136.

Alex Christoforou

Published

on

According to a report by the AFP, China’s trade surplus with the United States ballooned to a record $34.1 billion in September, despite a raft of US tariffs, official data showed Friday, adding fuel to the fire of a worsening trade war.

Relations between the world’s two largest economies have soured sharply this year, with US President Donald Trump vowing on Thursday to inflict economic pain on China if it does not blink.
The two countries imposed new tariffs on a massive amount of each other’s goods mid-September, with the US targeting $200 billion in Chinese imports and Beijing firing back at $60 billion worth of US goods.

“China-US trade friction has caused trouble and pounded our foreign trade development,” customs spokesman Li Kuiwen told reporters Friday.

But China’s trade surplus with the US grew 10 percent in September from a record $31 billion in August, according to China’s customs administration. It was a 22 percent jump from the same month last year.

China’s exports to the US rose to $46.7 billion while imports slumped to $12.6 billion.

China’s overall trade — what it buys and sells with all countries including the US — logged a $31.7 billion surplus, as exports rose faster than imports.

Exports jumped 14.5 percent for September on-year, beating forecasts from analysts polled by Bloomberg News, while imports rose 14.3 percent on-year.

While the data showed China’s trade remained strong for the month, analysts forecast the trade war will start to hurt in coming months.

China’s export jump for the month suggests exporters were shipping goods early to beat the latest tariffs, said ANZ’s China economist Betty Wang, citing the bounce in electrical machinery exports, much of which faced the looming duties.

“We will watch for downside risks to China’s exports” in the fourth quarter, Wang said.

Analysts say a sharp depreciation of the yuan has also helped China weather the tariffs by making its exports cheaper.

“The big picture is the Chinese exports have so far held up well in the face of escalating trade tensions and cooling global growth, most likely thanks to the competitiveness boost provided by a weaker renminbi (yuan),” said Julian Evans-Pritchard, China economist at Capital Economics.

“With global growth likely to cool further in the coming quarters and US tariffs set to become more punishing, the recent resilience of exports is unlikely to be sustained,” he said.

According to Bloomberg US President Donald Trump’s new U.S.-Mexico-Canada Agreement isn’t that different from the North American Free Trade Agreement that it replaced. But hidden in the bowels of the new trade deal is a clause, Article 32.10, that could have a far-reaching impact. The new agreement requires member states to get approval from the other members if they initiate trade negotiations with a so-called non-market economy. In practice, “non-market” almost certainly means China. If, for example, Canada begins trade talks with China, it has to show the full text of the proposed agreement to the U.S. and Mexico — and if either the U.S. or Mexico doesn’t like what it sees, it can unilaterally kick Canada out of the USMCA.

Although it seems unlikely that the clause would be invoked, it will almost certainly exert a chilling effect on Canada and Mexico’s trade relations with China. Forced to choose between a gargantuan economy across the Pacific and another one next door, both of the U.S.’s neighbors are almost certain to pick the latter.

This is just another part of Trump’s general trade waragainst China. It’s a good sign that Trump realizes that unilateral U.S. efforts alone won’t be enough to force China to make concessions on issues like currency valuation, intellectual-property protection and industrial subsidies. China’s export markets are much too diverse:

If Trump cuts the U.S. off from trade with China, the likeliest outcome is that China simply steps up its exports to other markets. That would bind the rest of the world more closely to China and weaken the global influence of the U.S. China’s economy would take a small but temporary hit, while the U.S. would see its position as the economic center of the world slip into memory.

Instead, to take on China, Trump needs a gang. And that gang has to be much bigger than just North America. But most countries in Europe and East Asia probably can’t be bullied into choosing between the U.S. and China. — their ties to the U.S. are not as strong as those of Mexico and Canada. Countries such as South Korea, Germany, India and Japan will need carrots as well as sticks if they’re going to join a U.S.-led united trade front against China.

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the escalating trade war between the United States and China, and the record trade surplus that positions China with a bit more leverage than Trump anticipated.

Remember to Please Subscribe to The Duran’s YouTube Channel.

Follow The Duran Audio Podcast on Soundcloud.

Via Zerohedge Trump Threatens China With More Tariffs, Does Not Seek Economic “Depression”

US equity futures dipped in the red after President Trump threatened to impose a third round of tariffs on China and warned that Chinese meddling in U.S. politics was a “bigger problem” than Russian involvement in the 2016 election.

During the same interview with CBS’s “60 Minutes”, in which Trump threatened to impose sanctions against Saudi Arabia if the Saudis are found to have killed WaPo reported Khashoggi, and which sent Saudi stock plunging, Trump said he “might,” impose a new round of tariffs on China, adding that while he has “great chemistry” with Chinese President Xi Jinping, and noting that Xi “wants to negotiate”, he doesn’t “know that that’s necessarily going to continue.” Asked if American products have become more expensive due to tariffs on China, Trump said that “so far, that hasn’t turned out to be the case.”

“They can retaliate, but they can’t, they don’t have enough ammunition to retaliate,” Trump says, “We do $100 billion with them. They do $531 billion with us.”

Trump was also asked if he wants to push China’s economy into a depression to which the US president said “no” before comparing the country’s stock-market losses since the tariffs first launched to those in 1929, the start of the Great Depression in the U.S.

“I want them to negotiate a fair deal with us. I want them to open their markets like our markets are open,” Trump said in the interview that aired Sunday. So far, the U.S. has imposed three rounds of tariffs on Chinese imports totaling $250 billion, prompting China to retaliate against U.S. products. The president previously has threatened to hit virtually all Chinese imports with duties.

Asked about his relationship with Vladimir Putin and the Kremlin’s alleged efforts to influence the 2016 presidential election, Trump quickly turned back to China. “They meddled,” he said of Russia, “but I think China meddled too.”

“I think China meddled also. And I think, frankly, China … is a bigger problem,” Trump said, as interviewer Lesley Stahl interrupted him for “diverting” from a discussion of Russia.

Shortly before an audacious speech by Mike Pence last weekend, in which the US vice president effectively declared a new cold war on Beijing (see “Russell Napier: Mike Pence Announces Cold War II”), Trump made similar accusations during a speech at the United Nations last month, which his aides substantiated by pointing to long-term Chinese influence campaigns and an advertising section in the Des Moines Register warning farmers about the potential effects of Trump’s tariffs.

Meanwhile, in a rare U.S. television appearance, China’s ambassador to the U.S. said Beijing has no choice but to respond to what he described as a trade war started by the U.S.

“We never wanted a trade war, but if somebody started a trade war against us, we have to respond and defend our own interests,” said China’s Ambassador Cui Tiankai.

Cui also dismissed as “groundless” the abovementioned suggestion by Vice President Mike Pence that China has orchestrated an effort to meddle in U.S. domestic affairs. Pence escalated the rhetoric in a speech Oct. 4, saying Beijing has created a “a whole-of-government approach” to sway American public opinion, including spies, tariffs, coercive measures and a propaganda campaign.

Pence’s comments were some of the most critical about China by a high-ranking U.S. official in recent memory. Secretary of State Michael Pompeo got a lecture when he visited Beijing days later, about U.S. actions that were termed “completely out of line.” The tough words followed months of increases tit-for-tat tariffs imposed by Washington and Beijing that have ballooned to cover hundreds of billions of dollars in bilateral trade.

During a recent interview with National Public Radio, Cui said the U.S. has “not sufficiently” dealt in good faith with the Chinese on trade matters, saying “the U.S. position keeps changing all the time so we don’t know exactly what the U.S. would want as priorities.”

Meanwhile, White House economic director Larry Kudlow said on “Fox News Sunday” that President Donald Trump and Chinese President Xi Jinping will “probably meet” at the G-20 summit in Buenos Aires in late November. “There’s plans and discussions and agendas” being discussed, he said. So far, talks with China on trade have been “unsatisfactory,” Kudlow said. “We’ve made our asks” on allegations of intellectual property theft and forced technology transfers, he added. “We have to have reciprocity.”

Addressing the upcoming meeting, Cui said he was present at two previous meetings of Xi and Trump, and that top-level communication “played a key role, an irreplaceable role, in guiding the relationship forward.” Despite current tensions the two have a “good working relationship,” he said.

Liked it? Take a second to support The Duran on Patreon!
Continue Reading

Latest

Massacre in Crimea kills dozens, many in critical condition

According to preliminary information, the incident was caused by a gas explosion at a college facility in Kerch, Crimea.

The Duran

Published

on

“We are clarifying the information at the moment. Preliminary figures are 50 injured and 10 dead. Eight ambulance crews are working at the site and air medical services are involved,” the press-service for the Crimean Ministry of Health stated.

Medics announced that at least 50 people were injured in the explosion in Kerch and 25 have already been taken to local hospital with moderate wounds, according to Sputnik.

Local news outlets reported that earlier in the day, students at the college heard a blast and windows of the building were shattered.

Putin Orders that Assistance Be Provided to Victims of Blast in Kerch – Kremlin Spokesman

“The president has instructed the Ministry of Health and the rescue services to take emergency measures to assist victims of this explosion, if necessary, to ensure the urgent transportation of seriously wounded patients to leading medical institutions of Russia, whether in Moscow or other cities,” Kremlin spokesman Dmitriy Peskov said.

The president also expressed his condolences to all those affected by the tragic incident.

Manhunt Underway in Kerch as FSB Specialists Investigate Site of Explosion – National Anti-Terrorist Committee

The site of the blast that rocked a city college in Kerch is being examined by FSB bomb disposal experts and law enforcement agencies are searching for clues that might lead to the arrest of the perpetrators, the National Anti Terrorism Committee said in a statement.

“Acting on orders from the head of the NAC’s local headquarters, FSB, Interior Ministry, Russian Guards and Emergency Ministry units have arrived at the site. The territory around the college has been cordoned off and the people inside the building evacuated… Mine-disposal experts are working at the site and law enforcement specialists are investigating,” the statement said.

Terrorist Act Considered as Possible Cause of Blast in Kerch – Kremlin Spokesman

“The tragic news that comes from Kerch. Explosion. The president was informed … The data on those killed and the number of injured is constantly updated,” Peskov told reporters.

“[The version of a terrorist attack] is being considered,” he said.

Liked it? Take a second to support The Duran on Patreon!
Continue Reading

JOIN OUR YOUTUBE CHANNEL

Your donations make all the difference. Together we can expose fake news lies and deliver truth.

Amount to donate in USD$:

5 100

Validating payment information...
Waiting for PayPal...
Validating payment information...
Waiting for PayPal...
Advertisement

Advertisement

Quick Donate

The Duran
EURO
DONATE
Donate a quick 10 spot!
Advertisement
Advertisement

Advertisement

The Duran Newsletter

Trending